IRAs, deferred annuities, and other retirement plan assets are a tax effective way to make a testamentary gift to the California State University, Fresno Foundation after your lifetime. When distributions are made from a retirement plan, they usually generate taxable income for taxpaying heirs. In addition, the value of the assets is usually included in the taxable estate. In extreme cases the heirs may receive less than 20 cents of every dollar in the plan.
When the California State University, Fresno Foundation is named as beneficiary of a retirement plan, the assets are not taxed - every dollar in the plan goes to work to benefit Fresno State students.
Donors who wish to have their heirs receive some benefit from their retirement plans may designate a portion to heirs or create a testamentary charitable trust to receive the assets. Assets in the plan are distributed to the trust. The trust pays an income to the heirs for life or for a term of years, then distributes the remainder to the California State University, Fresno Foundation.
For more information, please contact:
Carol Widmer, CFP
Director of Planned Giving
559.278.8337
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If you have questions or concerns and would like to address them to the Fresno State Campaign staff, please contact us today.
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